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Question 7 of 36 Question 7 4.16 points During September, a small roofing company purchased 200 bundles of a certain type of shingle at a price of $25 per bundle, $5 less than the standard price. Its standard quantity of this type of shingle is 400 bundles. What is the journal entry to record the purchase of materials? Save Answer debit Materials, 18,000 .......credit Materials Price Variance, 2,000 ....credit Accounts Payable, 15.000 debit Materials, 6.000 ...credit Materials Price Variance, 1,000 ............credit Accounts Payable, 5.000 debit Materials, 2,500 debit Materials Price Variance, 2,600 ...credit Accounts Payable, 1,720 debit Materials, 5,000 debit Materials Price Variance, 3,500 .........credit Accounts Payable, 21,500 Questions 4.16 points Save Answer Hexene, Inc. produces a specialized machine part used in forklifts. For last year's operations, the following data were gathered: Units produced Direct labor Actual variable overhead 40.000 32.000 hours @ $10.00 $140,000 Hexene employs a standard costing system. During the year, a variable overhead rate of $6.00 was used. The labor standard requires 0.75 hours per unit produced. The variable overhead spending and efficiency variances are: 545,000 U and $6,500 U. O $52,000 F and S12,000 U. $9,600 U and 545,000 F. O $16,000 F and $8,400 F. None of these